The benefits of mobile banking

| September 2, 2014

More than half of all smartphone users in the United States now rely on their devices for online banking. The convenience of mobile banking is largely responsible for its growing popularity and it’s this anytime, anywhere convenience that makes it an especially useful option for military families navigating the banking challenges that often come with frequent PCS moves or deployments.

With mobile banking, you can keep up with your finances even if you can’t get to a computer. By downloading the mobile banking app available from your bank or credit union, you can use your smartphone to quickly and securely check your account balances, pay bills and deposit checks.

Monitor Account Activity: Check account balances and observe transaction history anywhere, anytime. By having account information available at your fingertips, monitoring your accounts for fraudulent activity or ensuring that your spending does not exceed your balance is quick and easy.

Pay Bills: Avoid missed or late payment penalties by using mobile banking to set up a new bill payment or review and change an existing payment.

Make Deposits Remotely: Most mobile banking apps now offer a remote deposit option, which allow you to deposit a check without physically visiting a bank branch or ATM. Instead, use your smartphone camera to snap a picture of the front and back of a paper check, indicate the amount of the check and submit it for deposit – all using the mobile app.

Receive Account Alerts: With alerts sent to your smartphone, you can monitor certain types of account activity. Select the type of alerts you wish to receive and the frequency that works best for you. For example, First Command Bank customers can set up overall balance alerts, daily balance alerts, cleared check alerts, loan payment due date alerts and alerts for specific transaction types or amounts. While the exact types of alerts vary by financial institution, alerts are an excellent tool for keeping you on top of the types of account activities that most concern you.

If you currently use mobile banking or you think it might make sense for you, remember that while mobile banking apps are secure, keeping your phone secure is up to you. Always use all the security measures that are offered on your phone including PINS and passwords, especially the screen lock PIN. Employing these measures will help prevent unwanted access to the information stored on your phone.

Leave a Reply

− 1 = two